Newspaper article St Louis Post-Dispatch (MO)

St. Louis Unemployment Falls to 3.3 Percent, near a Record Low

Newspaper article St Louis Post-Dispatch (MO)

St. Louis Unemployment Falls to 3.3 Percent, near a Record Low

Article excerpt

St. Louis area unemployment fell to 3.3 percent in October, just a tick above the lowest rate recorded here.

The metro area unemployment rate, as seasonally adjusted by the St. Louis Federal Reserve Bank, had been 3.7 percent in September. It has fallen dramatically since hitting 10.4 percent in December 2009, in the depths of a recession.

The rate hasn't been this low since January 2000, when just 3.2 percent of St. Louisans were counted as unemployed near the peak of the dot-com boom. That is the low point since 1990, when the Labor Department adopted its current method for counting unemployment.

The national unemployment rate was 4.1 percent in October.

Thursday's report on area unemployment also contained some concerning news for St. Louis: The area's labor force shrank by 32,146 people, or 2.2 percent, in the 12 months that ended in October. …

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